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Learn how to create a salary sheet in Excel by following these steps: create payhead for salary sheet and enter data for s.no, empname, designation, and basic salary. Calculate DA (10%), HRA (8%), and PF (14%) of basic salary. Find out Gross Salary by adding DA, HRA, and PF. Calculate EPF (half of PF) and LIC (half of EPF) as deductions. Subtract deductions from Gross Salary to get Net Salary.